Corporate board service isn’t charity. It’s risk capital

Recent headlines about Tesla board compensation have reignited a familiar, and often reflexive, debate: how much is too much? It is an easy question, and the wrong one. 

The more consequential issue for boards and shareholders alike is whether director compensation frameworks are still “fit for purpose” in a governance environment that has grown materially more complex, more adversarial, and more global. If board service has quietly evolved into a role that requires greater time, sharper judgment...